If you spent any time in 2017 monitoring the areas of finance or technology, you undoubtedly noticed that the financial gains of the cryptocurrency known as Bitcoin created excitement across global markets. The growth that began as a quiet whisper strengthened to a resounding cry of victory spurred on by Bitcoin’s daily financial gains. As the digital currency steadily increased in value, other cryptocurrencies strengthened, by association. The 2017 performance of Bitcoin specifically and cryptocurrency in general, leaves those in the digital domain energized, anticipating the enormous potential that is in store for the world of virtual currency in 2018.
WATCH FOR THESE CHANGES IN CRYPTOCURRENCY DURING 2018
• The unprecedented growth demonstrated by Bitcoin will appear in other digital currency platforms in the coming year. At this present time, there are more than 1,300 types of digital coins across the globe. Because of the Initial Coin Offerings (ICOs) that usher in new varieties of cryptocurrency shows no signs of slowing down, that number will likely grow exponentially throughout 2018. Clearly, some will show more immediate growth than others. However, just as the internet went from being viewed as an unknown and slightly mistrusted entity in the 1990’s, cryptocurrency is gaining familiarity and traction globally. As this trend continues, look for digital currency to emerge as a trusted vehicle for financial growth and a well-known form of currency offering its owners simplified transactions as well as a high level of security.
• Expect a vast increase in the number of people involved in cryptocurrency. As with most cutting-edge advancements, some individuals spent years on the fringes of cryptocurrency. Uncertainty and unfamiliarity fueled a fear of the unknown which kept these people from embracing cryptocurrency. The exceptional performance of Bitcoin and other digital currencies in 2017, will be the confirmation that many people need in order to move forward and purchase cryptocurrency confidently. Of course, the success which will be seen early in 2018, will add credibility to cryptocurrency. As familiarity and credibility grow, more and more people who were once skeptical will purchase cryptocurrency, continuing the cycle of success. Because digital currency is not just for investing, people will also increasingly use virtual coin for regular business transactions and purchases.
• Based on the numbers of those owning and using cryptocurrencies, increasing numbers of businesses will accept crypto coins for everyday transactions. Mainstream companies already accept Bitcoin, and more companies are taking cryptocurrency daily. Businesses that choose to decline digital currency for purchases will lock themselves out of a burgeoning market. The ease of using cryptocurrency combined with the minimal fees make digital coins a natural choice for merchants as well as customers.
• 2018 will likely bring an influx of media coverage and reaction to the world of cryptocurrency. Since its beginnings, Bitcoin has received a mixture of good and bad representation in the media. Initially, outlets reporting on the fledgling currency painted it in the worst light that was possible. Reports meant to instill fear and suspicion were commonplace as world governments recoiled from a currency set up to be free of government interference. Presently, numerous governments all over the globe are scrambling to find ways to regulate, limit, and in some cases discredit cryptocurrency.
The great success enjoyed by Bitcoin in 2017, forced the media to report on the growth and gains as well as the positive impact the cryptocurrency had on the lives of its owners. Although in some cases, detractors continued to speculate on the demise of the currency’s value. As cryptocurrencies continue to grow and improve the financial condition of many, the media will give accurate coverage aimed at telling consumers the truth about the positives found in the world of cryptocurrency.
CRYPTOCURRENCIES WHICH HAVE POTENTIAL FOR SIGNIFICANT GROWTH IN 2018
Although no one can say with complete accuracy which cryptocurrencies have the best potential for growth in 2018, here are some which, based on past performance and trends seen in similar kinds of currency, show a great capacity for advancing progress in 2018.
• Dash- This is a cryptocurrency which has a highly developed and secure block-chain. It is a token based currency whose servers facilitate instant send and private send features for transactions.
• Ripple- Owners of Ripple can enjoy real-time transactions with exceptional anonymity. They also use tried and true Interledger protocol platforms with proven track-records.
• IOTA- While it is technically challenging to grasp for some, IOTA is an open source system. Its platform facilitates the concept of the Internet of Everything.
Based on the logic that past performance is indeed a reliable indicator of future performing, cryptocurrencies are poised to be at the forefront of the financial and technological landscape in 2018.